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Case Studies Jeff Bezos

Founder of Amazon.com

Jeff Bezos story lessons quotes

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Amazon.com Success Story, Jeff Bezos

Jeff Bezos Quotes

Do Your Best

Customer Care  Download PowerPoint presentation, pdf e-book

  • We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better.

  • We donít make money when we sell things; we make money when we help people make purchase decisions.

  • We will continue to invest in systems, people and product expansion, each of which helps us better serve customers.

Business Development Download PowerPoint presentation, pdf e-book

  • There are two ways to extend a business. Take inventory of what you're good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills.

  • There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.

  • We've never tested and we never will test prices based on customer demographics, ... What we did was a random price test, and even that was a mistake because it created uncertainty for customers rather than simplifying their lives.

 Innovation Download PowerPoint presentation, pdf e-book

  • What we want to be is something completely new. There is no physical analog for what Amazon.com is becoming.  >>>

10 Commandments of Innovation Download PowerPoint presentation, pdf e-book

  • There'll always be serendipity involved in discovery >>>

  • One of the things that is most important for a company is to be very clear about their strategies, so investors get to self-select as to whether or not that's the right strategy for them. I think we've done a very good job about being clear that we're a long-term focused company.  >>>

  • Good ideas will always get funded, so that's not going to be a problem. But you will see that it will be harder and harder for bad ideas to get funded.

Amazon.com Success Story

Based in Seattle, USA, the company has grown from a book seller to a virtual Wall Mart of the Web selling products as diverse as music CDs, software, office products, electronics, toys, games, cookware, hardware, food, and health products. The company has also grown at a tremendous rate with revenue rising from about US$150 million in 1997 to US$5.2 billion in 2003.

Entrepreneurial Spirit of Jeff Bezos

"One of the huge mistakes people make is that they try to force an interest on themselves. You don't choose your passions; your passions choose you." ~ Jeff Bezos

Jeff Bezos, the founder of the company, broke the rules of the book business by using the Internet rather than conventional distribution channels.

Amazon.com was founded by Jeff Bezos, a computer science and electrical engineering graduate from Princeton University. Bezos had moved to Seattle after resigning as a Senior Vice-President at D.E.Shaw, a Wall Street investment bank. He didnít know much about the Internet. But he came across a statistic that the Internet was growing at 2300%, which convinced him that it was a large growth opportunity.

Not knowing much more, he plunged into the world of e-commerce with no prior retailing experience.

He chose to locate the company in Seattle because it had a large pool of technical talent and since it was close to one of the largest book wholesalers located in Rosenburg, Oregon. He was thinking of the company as a bookseller at the beginning. Moreover, the sales tax laws for online retailers state that one has to charge sales tax in the state in which one is incorporated. Therefore it was logical to locate in a small state.

 

 

The company was started in a garage. Initial business meetings were conducted at a local Barnes and Noble store. Bezos picked the name 'Amazon' for his company because it started with the letter A, signified something big, and it was easy to spell.

The company went online in July 1995. In May 1997, Amazon.com went public.

10 Rules for Building a High-growth Business

3 Strategies of Market Leaders  Download PowerPoint presentation, pdf e-book

Value Innovation: Yin-Yang Strategies  Download PowerPoint presentation, pdf e-book

Time Person of the Year

For his contribution, Jeff Bezos was picked as the 1999 Time person of the year at the age of 35 making him the fourth-youngest person of the year. Describing why it choose Bezos, Time magazine said, ďBezosí vision of the online retailing universe was so complete, his Amazon.com site so elegant and appealing that it became from Day One the point of reference for anyone who had anything to sell online.Ē